Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases Shares of 100,000 Navan, Inc. $NAVN

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Navan, Inc. (NASDAQ:NAVNFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $1,708,000.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in Navan during the fourth quarter valued at about $8,540,000. Lunate Capital Ltd purchased a new stake in shares of Navan during the fourth quarter worth about $3,416,000. Jennison Associates LLC purchased a new stake in shares of Navan during the fourth quarter worth about $31,195,000. Norges Bank purchased a new stake in shares of Navan during the fourth quarter worth about $34,160,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Navan during the fourth quarter worth about $56,848,000.

Insider Buying and Selling

In related news, CEO Ariel M. Cohen sold 151,007 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total value of $1,301,680.34. Following the completion of the transaction, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at $8,653,773.16. This represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Ilan Ezra Twig sold 49,210 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total transaction of $424,190.20. Following the completion of the transaction, the chief technology officer directly owned 538,012 shares of the company’s stock, valued at approximately $4,637,663.44. The trade was a 8.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 253,592 shares of company stock valued at $2,778,500 over the last three months. Corporate insiders own 63.39% of the company’s stock.

Analyst Upgrades and Downgrades

NAVN has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Navan in a report on Monday. Rosenblatt Securities increased their target price on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings upgraded shares of Navan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Bank of America initiated coverage on shares of Navan in a report on Tuesday, April 7th. They set a “buy” rating and a $17.00 target price for the company. Finally, Oppenheimer increased their target price on shares of Navan from $20.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.64.

Check Out Our Latest Stock Report on Navan

Navan Price Performance

NAVN stock opened at $20.68 on Wednesday. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $23.53. The company has a market cap of $5.19 billion and a P/E ratio of -9.89. The firm has a 50-day moving average of $17.08 and a 200 day moving average of $14.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07.

Navan (NASDAQ:NAVNGet Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.26. The company had revenue of $177.92 million during the quarter. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. On average, sell-side analysts forecast that Navan, Inc. will post -0.33 EPS for the current year.

Navan Company Profile

(Free Report)

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.

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Institutional Ownership by Quarter for Navan (NASDAQ:NAVN)

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